External Merchandise Trade Statistics for August 2024
The Census and Statistics Department (C&SD) released today (September 26) the external merchandise trade statistics for August 2024. In August 2024, the values of Hong Kong's total exports and imports of goods both recorded year-on-year increases, at 6.4% and 7.9% respectively.
In August 2024, the value of total exports of goods increased by 6.4% over a year earlier to $381.3 billion, after a year-on-year increase by 13.1% in July 2024. Concurrently, the value of imports of goods increased by 7.9% over a year earlier to $414.4 billion in August 2024, after a year-on-year increase by 9.9% in July 2024. A visible trade deficit of $33.1 billion, equivalent to 8.0% of the value of imports of goods, was recorded in August 2024.
For the first eight months of 2024 as a whole, the value of total exports of goods increased by 11.5% over the same period in 2023. Concurrently, the value of imports of goods increased by 8.0%. A visible trade deficit of $216.0 billion, equivalent to 6.8% of the value of imports of goods, was recorded in the first eight months of 2024.
Comparing the three-month period ending August 2024 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods increased by 0.3%. Meanwhile, the value of imports of goods increased by 3.8%.
Analysis by country/territory
Comparing August 2024 with August 2023, total exports to Asia as a whole grew by 9.9%. In this region, increases were registered in the values of total exports to some major destinations, in particular Vietnam (+27.0%), Malaysia (+23.7%), Thailand (+15.3%), the Philippines (+14.5%) and the mainland of China (the Mainland) (+12.9%). On the other hand, decreases were recorded in the values of total exports to India (-20.5%) and Singapore (-14.5%).
Apart from destinations in Asia, decreases were registered in the values of total exports to some major destinations in other regions, in particular Switzerland (-62.0%) and the United Kingdom (-46.2%).
Over the same period of comparison, increases were registered in the values of imports from some major suppliers, in particular Singapore (+26.8%), Vietnam (+26.2%), Korea (+19.6%), Malaysia (+17.4%) and the Mainland (+9.7%). On the other hand, decreases were recorded in the values of imports from the Philippines (-10.0%) and the USA (-5.1%).
For the first eight months of 2024 as a whole, year-on-year increases were registered in the values of total exports to some major destinations, in particular Thailand (+28.3%), Vietnam (+23.8%), the Mainland (+18.9%), the USA (+15.2%) and the United Arab Emirates (+4.8%). On the other hand, a decrease was recorded in the value of total exports to India (-10.3%).
Over the same period of comparison, year-on-year increases were registered in the values of imports from some major suppliers, in particular Vietnam (+48.0%), Korea (+46.0%), Singapore (+20.7%), the Mainland (+9.6%) and Malaysia (+4.8%). On the other hand, a decrease was recorded in the value of imports from the Philippines (-13.8%).
Analysis by major commodity
Comparing August 2024 with August 2023, increases were registered in the values of total exports of some principal commodity divisions, in particular "office machines and automatic data processing machines" (by $14.4 billion or +43.5%) and "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $13.0 billion or +7.5%).
Over the same period of comparison, increases were registered in the values of imports of some principal commodity divisions, in particular "office machines and automatic data processing machines" (by $19.7 billion or +79.6%) and "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $17.0 billion or +10.0%).
For the first eight months of 2024 as a whole, year-on-year increases were registered in the values of total exports of some principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $149.1 billion or +11.9%) and "office machines and automatic data processing machines" (by $82.3 billion or +32.6%).
Over the same period of comparison, year-on-year increases were registered in the values of imports of most principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $122.7 billion or +9.6%) and "office machines and automatic data processing machines" (by $70.5 billion or +35.1%).
Commentary
A Government spokesman said that the value of merchandise exports grew solidly in August 2024 over a year earlier. Exports to the Mainland, the United States and the European Union registered increases of varying degree, while those to other major Asian markets saw mixed performance.
Looking ahead, while geopolitical tensions and trade conflicts will present risks, Hong Kong's exports performance should remain positive if external demand continues to hold up. The Government will monitor the situation closely.
Further information
Table 1 presents the analysis of external merchandise trade statistics for August 2024. Table 2 presents the original monthly trade statistics from January 2021 to August 2024, and Table 3 gives the seasonally adjusted series for the same period.
The values of total exports of goods to 10 main destinations for August 2024 are shown in Table 4, whereas the values of imports of goods from 10 main suppliers are given in Table 5.
Tables 6 and 7 show the values of total exports and imports of 10 principal commodity divisions for August 2024.
All the merchandise trade statistics described here are measured at current prices and no account has been taken of changes in prices between the periods of comparison. A separate analysis of the volume and price movements of external merchandise trade for August 2024 will be released in mid-October 2024.
The August 2024 issue of "Hong Kong External Merchandise Trade" contains detailed analysis on the performance of Hong Kong's external merchandise trade in August 2024 and will be available in early October 2024. Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020005&scode=230).
Enquiries on merchandise trade statistics may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4691).
EDB reminds parents to choose primary schools under Central Allocation process for their children
The Education Bureau (EDB) today (January 12) reminded parents that children who have joined the Primary One Admission (POA) System for 2026 but have not yet secured a discretionary place can take part in the Central Allocation process for a Primary One (P1) place in a government or aided primary school. Parents concerned should make their choice of schools within the period from January 19 to 25.
Digitalisation of POA
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In line with the Smart Government strategy, the EDB has fully implemented digitalisation of the POA. Parents who have registered as POA e-Platform (ePOA) users and have bound their account to "iAM Smart+" may submit the Choice of Schools Form for Central Allocation from January 19 to 25 through the ePOA. Please refer to the related videos and Parent's Guide on the EDB's website (www.edb.gov.hk/en/edu-system/primary-secondary/spa-systems/primary-1-admission/poa_eplatform/index.html) for details of the procedures for activating and logging into an ePOA account and for making school choices for the Central Allocation of POA via the e-Platform.
Making school choices at Central Allocation Centres
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The EDB will send letters to parents on January 14 inviting them to make their choice of schools. To cater for the needs of different parents, parents can still submit the Choice of Schools Form in paper form by visiting the designated Central Allocation Centre at the suggested time slot (i.e. 9.30am to 12.30pm or 1.30pm to 4.30pm on January 24 (Saturday) or 9.30am to 12.30pm on January 25 (Sunday)) stated in the letter.
Parents who are ePOA users may choose to submit the Central Allocation Application via the ePOA or in paper form to the Central Allocation Centre but should not submit duplicate applications. Parents who have not yet received the letter by January 19 should call the School Places Allocation Section of the EDB (Hotline: 2832 7700) as soon as possible.
Only one parent of an applicant child is required to complete the school choice-making procedures. Parents are advised not to take their children to the Central Allocation Centre if possible. Parents who cannot make school choices within the suggested time slot can go to the designated Central Allocation Centre from 1.30pm to 4.30pm on January 25. The Choice of Schools Form will be sent together with the letter to parents who have submitted a paper Application Form at the Discretionary Places stage for filling out in advance.
In the event of adverse weather or other special conditions on any day during the period of making school choices, please pay heed to radio or television announcements on the relevant special arrangements.
Unable to submit application within specified choice-making period
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For individual parents who are unable to use the ePOA or go to the Central Allocation Centre to make school choices, they can authorise in writing a representative to bring the completed Choice of Schools Form and their signed Letter of Authorisation to the Central Allocation Centre to proceed with the related procedures.
To apply for POA 2026 for their children after January 25, parents need to complete necessary procedures with the School Places Allocation Section, which will separately arrange P1 places for the applicant children in June.
Change of residential address
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An EDB spokesman reminded parents that, if they have recently moved their residence or have such plans in the near future, they are required to inform the School Places Allocation Section as soon as possible so that they can make school choices in the POA School Net where their new home is located. Parents should fill in the actual residential address of their child. If they provide a false address for securing a P1 place, the POA application of their child will be rendered void and the P1 place allocated will be withdrawn.
The EDB has put in place a monitoring mechanism to verify the residential addresses of applicant children as given by the parents. Random checks have also been stepped up. The public may call the School Places Allocation Section to report suspected cases of using a false address by parents for their children's POA application. The EDB will take action against false address cases.
Mechanism of Central Allocation
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Central Allocation is composed of two parts. Part A, which takes up 10 per cent of the P1 places earmarked for Central Allocation, is for unrestricted school choices. Parents can choose up to three government or aided primary schools in any school net. Part B takes up the remaining 90 per cent of the P1 places earmarked for Central Allocation. Parents of applicant children residing in the school net concerned are to select schools from the "Choice of Schools List for Central Allocation (Primary One Admission 2026)" of their school net, while parents of applicant children who intend to commute daily to schools in Hong Kong are to select schools from the "2026 Choice of Schools List for Central Allocation (For Applicant Children who intend to commute daily to schools in Hong Kong)". Parents should fill in the Choice of Schools Form in the order of their preference.
The mechanism of the Central Allocation is based on parents' choices in general. The computer-programmed allocation will first process the school choices in Part A and then the school choices in Part B. For oversubscribed schools, the order of priority in allocating places will be determined by random numbers generated by the computer for individual applicants to ensure fairness.
For information about the procedures for Central Allocation, please call the EDB's 24-hour automatic telephone enquiry service at 2891 0088.
Release of Central Allocation results
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For parents who have already activated their ePOA account via "iAM Smart" or "iAM Smart+", they will receive their Central Allocation results through the ePOA from 10am on June 3. Parents who wish to receive the allocation results via SMS on June 3 may choose such an option in the Choice of Schools Form. In addition, the allocation results will be sent to parents by post on June 3 and 4.
Source: AI-found images
